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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: StockOperator who wrote (12259)	4/28/1999 3:10:00 PM
From: donald sew	Read Replies (2) of 99985

StockOperator, >>>> But when you look back further beyond the mid-April time period I think you see a much different picture. Look at the moves the indexes have made from the beginning of April. Here are the lows and highs on an intra-month basis so far: Dow 9765 - over 10,900 today Trannies 3290 - 3679 NAZ 2329 - 2677 RUT 396 - 437 S&P 1282 - 1371 <<<<<< Yes, and most of the analysts use the same arguement that the BULL RALLY will continue based on the fact that its run up alot. But keep in mind that downside reversals comes at high points not low points.gggggg My analysis is calling an upside potential of 11,000-11,100, and 1410 on the SPX which I mentioned a few days ago. The SPX aint going anywhere right now and the the NAZ is heading lower. I dont recall this type of trading in previous basing patterns. Im not saying that it will be the main top but an intermediate top that should be the high until JULY. Heck in JULY AUG we may see the real rally that could take us much higher into SEPT/OCT. The NAZ right now is down 29 points with the DOW up 80. Using the ratio of 4.2 to compare the NAZ to the DOW, and that equate to 122 negative DOW points, and the SPX is down 3. So it just continues One index up, one index down, and one index flat. We aint going anywhere, at least not yet. seeya

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